N Chandrasekaran Resigns as Tata Sons Chairman: Reuters
N Chandrasekaran has resigned as chairman of Tata Sons but will continue in the role until the end of his current term in February, according to a source familiar with the matter, Reuters reported on Wednesday. The development comes months after Tata Sons deferred a decision on Chandrasekaran’s reappointment amid differences with Tata Trusts chairman Noel Tata over the future governance of the conglomerate. Why Chandrasekaran Is Stepping Down: Tata Trusts Rift Explained Tata Sons is the holding company of the Tata Group and oversees more than 30 companies, including Tata Consultancy Services (TCS), Tata Motors and Air India. Tata Trusts, the group’s philanthropic arm, owns a 66 per cent stake in Tata Sons. In February, Tata Sons postponed a decision on extending Chandrasekaran’s tenure after Noel Tata opposed the move, Reuters reported at the time. According to a source cited by Reuters, Noel Tata had sought several conditions, including a commitment that Tata Sons would never b...